Is Disney Still Doing Business in Russia?
According to a recent investigation done by the MRA, companies including Disney may not be telling the whole truth.
Is Disney still doing business in Russia? Let’s find out.
The Report from Moral Rating Agency:
The Moral Rating Agency, a British organization founded after Russia invaded Ukraine, released their findings on Tuesday.
Clearly, many companies that pledged to end business in Russia have not withdrawn completely.
In the report, it states that out of 114 major companies actively doing business in Russia:
- Only 6% have fully exited
- 39% have not made a comment at all
- 55% have only partially withdrawn
Disney’s Business Stance:
The Walt Disney Company falls in that 55% category.
Although, Disney stopped all new film releases and claimed additional steps were being taken to shut down all operations, there are some contracts still in limbo.
Of course, Disney stated that some operations will take more time than others to shut down.
This would include contractual projects like TV Channels, content and product licensing.
Additionally, Disney Cruise Line still owns a port in St. Petersburg, Russia.
Could Disney be holding onto the port in St. Petersburg for future sailings with Disney Cruise Line and Adventures by Disney?
The Walt Disney Company is not alone in the 55% category however. Other companies included in article by Fast Company are Apple, Citigroup, and Goldman Sachs.
Disney has yet to comment on the report.
Source: Rainey, Clint. “Many large companies that vowed to leave Russia are still active there.” Fast Company, 29 June 2022. https://www.fastcompany.com/90765128/report-many-large-companies-that-vowed-to-leave-russia-are-still-active-there
Feature Image: US Department of State
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